KeyCorp receives regulatory approval for Scotiabank's ~10% minority investment, expected to close in 2024

KEYCORP /NEW/

Federal Reserve approved Scotiabank's remaining ~10% stake; total investment now cleared.
Initial 4.9% tranche was completed on August 30, 2024.
Closing of the second tranche expected in 2024.
CEO Chris Gorman says the investment creates additional capacity for growth.

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